I ordered my raspberry-pi a couple weeks back (waiting on it still) and decided to prepare a project for it.
I had done personal arcade sticks before for a retro gaming night at our hackerspace, HeatSync Labs
Back then we hadn't gotten our laser in. Having one now, I made this nifty unfinished device.
Also heres the tour hackaday did of our space, you can catch me near the beginning talking about the arcade http://hackaday.com/2012/08/09/southwest-tour-heatsync-labs-in-mesa-arizona/#jp-carousel-82169
3D printed joystick top
Laser Cut body with holes for a rasp-pi
Once I get one of those nice scarce little boards and wire things up and install MAME and what not, I'll post more build pictures and video!